Employees' Provident Fund Organization or EPFO, the nodal agency that monitors Employees' Provident Fund contributions, allows the subscriber - or employees of an organisation of 20 or more individuals - to transfer provident fund (PF) balance with the previous employer to a new employer. In online transfer of PF, an employee has the option to get the claim attested by the previous employer. EPF is a government-run pension scheme in which mandatory contribution is deducted from the salary of an employee and contributed towards the provident fund.
EPF interest rates: Retirement fund body EPFO is settling provident fund (PF) withdrawal claims at the interest rate of 8.55 per cent, which was approved for the financial year 2017-18.
Airtel Payments Bank said it aims to create formal banking behaviours of usage and transactions through a bank account, all accessed through a point more close to the underserved.
HDFC Bank FD interest rates: HDFC Bank is offering 6.60 per cent interest rate on maturity period of one year to the general public on FDs of up to Rs. 2 crore.
The post office public provident fund account offers an interest of 7.9 per cent per annum, which is compounded yearly.
State Bank of India's MCLR, the rate to which all of its loans are linked, now stands at 8.15 per cent for the one-year tenor, from 8.25 per cent earlier, according to SBI's statement.
For SBI's flexi deposit account, the minimum instalment amount is Rs. 500, and in a financial year, a person has to deposit a minimum of Rs. 5,000.
Investments under the post office senior citizen savings scheme (SCSS) also qualify for the benefit of Section 80C of the Income Tax Act.
Opening an APY account requires the applicant to hold a savings account either with a bank or a post office, according to NSDL.
According to the latest Bank of India FD rates, the bank is offering 4.25 per cent interest rate on maturity period of 7-14 days to the general public on FDs below Rs 2 crore.